Insight and Intelligence on the London & International Insurance Markets 18 Mar 2018

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P&I rates fall by 2%-5% at renewals

  • John Hewitt Jones 13 March 2018
  • Shipowners with loss-free accounts have received low-single-digit rate decreases on protection and indemnity (P&I) cover at general renewals for the 2018/19 policy year.

    Underwriting sources told The Insurance Insider that while some loss-hit accounts saw "high profile" rate increases, the majority of shipowners obtained single-digit discounts on mutual calls for the forthcoming policy period.

    A slight recovery in the dry bulk sector bolstered shipowners' confidence, helping to eke out decreases of between 2 percent and 5 percent across the 13...

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